Tata Has First Annual Loss in Seven Years as Jaguar, Land Rover Sales Fall Tata Motors Ltd., the Indian truck maker that owns Jaguar and Land Rover, posted its first annual loss in at least seven years after sales at the luxury units plunged amid the global recession.
Unitech Said to Be Raising $277 Million Selling Stock to Large Investors Unitech Ltd., India’s second-biggest developer, is selling shares worth 13.34 billion rupees ($277 million) to big investors, a person familiar with the sale said.
Sun Pharmaceutical Falls in Mumbai After U.S. Seizes Caraco Generic Drugs Sun Pharmaceutical Industries Ltd., the nation’s most valuable drugmaker, fell in Mumbai trading after the U.S. drug regulator confiscated generic medicines made by its unit Caraco Pharmaceutical Laboratories Ltd.
Sensex Rises, Led by Sterlite, Metal Producers; Sun Pharmaceutical Plunges Indian stocks rose, driving the benchmark index to the biggest advance in two weeks. Sterlite Industries (India) Ltd. led gains on optimism increased state spending and the economic recovery may spur demand.
India Stocks, Fairly Valued, May Still Rise 14% in 12 Months, Nomura Says Indian stocks are “fairly valued” after a 49 percent advance this year and further gains depend on government policies to boost economic growth and pare a budget deficit, Nomura Holdings Inc. said.
South Asia's `Historic Elections' May Spur Economic Integration in Region South Asia’s “historic elections” in the past 18 months have advanced democracy in the region and may spur economic integration, said Sheel Kant Sharma, secretary general of the South Asian Association for Regional Cooperation.
Subhiksha Holders Agree on Revival, Debt Restructuring, Subramanian Says Subhiksha Trading Services Ltd., the Indian retailer that closed stores after it ran out of cash, is confident its debt recast will be completed “well before” the end of next month after negotiations with stakeholders.
India's Five-Year Bonds Rise on Interest-Rate Outlook, Demand From Banks India’s five-year bonds gained for a fourth day on speculation borrowing costs around the world will remain low after the U.S. Federal Reserve held interest rates near zero earlier this week.
Consumer Spending in U.S. Rises, Incomes Jump on Obama's Stimulus Efforts Consumer spending rose in May as benefits from the Obama administration’s stimulus plan spurred a jump in American incomes, a sign that efforts to revive the economy are starting to pay off.
U.S. Stocks Drop as Americans' Savings Rate Hits 15-Year High, Oil Falls U.S. stocks fell and were poised for the first two-week decline since March after the highest American savings rate in 15 years spurred concern that consumer spending will slow and oil retreated. The dollar dropped after China’s central bank reiterated a call for a worldwide currency.
JPMorgan Chase, Citigroup Step Up `Jumbo' Lending for Most Expensive Homes JPMorgan Chase & Co. and Citigroup Inc. are expanding in “jumbo” mortgages used to buy the most expensive homes, helping revive a market that shriveled amid a three-year jump in homeowner defaults.
Treasury Plans to `Quickly' Sell Warrants From Banks Repaying TARP Funds The Treasury plans to sell warrants obtained as part of the financial bailout “quickly” after banks repay government shares.
Banks Reap Record $9.8 Billion Trading Derivatives in Quarter, U.S. Says The U.S. banking industry said it made $9.8 billion during the first quarter trading derivatives and securities as investors started returning to the markets amid signs the recession bottomed.
Magna Seeks `Extreme' Concessions From GM Opel Workers, Labor Leader Says Magna International Inc. is seeking “extreme” concessions from workers at General Motors Corp.’s Opel division less than a month after making pledges that won Germany’s backing for acquiring the unit, a union official said.
New Mexico Subpoenaed for Aldus Equity Records by U.S. Justice Officials Federal prosecutors subpoenaed New Mexico’s $6.3 billion teachers pension fund for records related to Aldus Equity Partners, a consultant that advised it on private equity investments.
source: Bloomberg
